LOT Polish Airlines deal approved to buy Condor.

Lufthansa will finally cut its ties with Condor.

German Airline Condor have been handed another lifeline as it has finally secured a new buyer. Lot Polish Airlines deal is set to be finalized in April 2020. Firstly Condor has been looking to secure a new buyer for around 5 months. In September 2019 Condors parent company Thomas Cook Airlines ceased operations.

Despite their owners going bankrupt Condor remained a profitable airline. A rescue deal was agreed to save the airline.

Condor 757
Condor 757 – Photography of Robin Van Acker of Travel Radar Media.

Lufthansa Germany’s flag carrier and largest airline is set to let their code-share partnership expire. So lets look at the history between the two airlines.

Firstly in 1955 when Condor was founded Lufthansa was a shareholder of the new airline. Between the years of 2000-2007 Lufthansa sold its share to the now defunct Thomas Cook. Despite the selling of its share they kept the code-share agreement.

Finally Lufthansa were rumored to buy Condor however that never happened. Due to new owners Lufthansa don’t wish to renew this contract.

Harry Hohmeister, a member of Lufthansa’s executive board, has said.

“We will not immediately terminate all contracts with Condor. After all, these are also our customers, whom we cannot and do not want to leave alone. But when the contracts expire, they expire.”

Despite this Lufthansa still own a large amount of subsidiaries these are:

  • Air Dolomiti
  • Austrian Airlines
  • Brussels Airlines
  • Eurowings & Eurowings Europe
  • Lufthansa Cargo
  • Lufthansa CityLine
  • Swiss International Airlines
  • Edelweiss Air
  • AeroLogic (50%)
  • SunExpress (50%)
  • LSG Sky Chefs
  • Lufthansa Consulting, Flight Training, Industrial Solutions, Systems & Technik
  • Global Load Control

However there is no timeline for when the partnership between the two airlines will end. Certainly it is coming to an end however both airlines wish to protect their current customers.

LOT Polish Airlines and the finalized deal.

Firstly we look at the deal Polish Aviation Group (PGL) has in place. PGL will repay the full €380 million loan received from the German government in September. However Condor will continue to run under its current leadership. In addition LOT will be offering its expanded connectivity.

PGL chairman Rafał Milczarski said:

“The acquisition of Condor fits perfectly into PGL’s strategy. It also secures the future of Condor and offers stability and great opportunities to its employees, customers and business partners.

“We want to develop Condor’s iconic brand in Germany and also introduce it to other markets in Europe. We wholeheartedly welcome all Condor employees to the PGL family and invite them to build together one of the greatest aviation groups in Europe.”

LOT Polish Airlines currently boasts one of the youngest more modern fleets in Europe. Ranging from 787-9 Dreamliners for Long Haul down to the Bombardier Q400 for regional flights. In addition serving almost 120 routes worldwide with their biggest hub in Warsaw.

LOT Polish Airlines Network Map
LOT Polish Airlines Network Map

In conclusion this seems like a fantastic new deal for Condor and is the beginning of a new horizon for both airlines.

 

 

 

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